Новости

FRC launches Complexity Project

The Financial Reporting Council has launched a project to review the complexity and relevance of current company reporting requirements.

Banking associations planning a merger

Two Russia’s largest banking associations, the Association of Regional Banks of Russia (Association “Russia”) and the Association of Russian Banks (ARB) are planning to unite.

IFAC’s International Ethics Standards Board Issues Proposals to Clarify Code of Ethics for Accountants

To further promote and facilitate accountants’ adherence to high ethical and independence standards, the International Ethics Standards Board for Accountants (IESBA), an independent standard-setting board within the International Federation of Accountants (IFAC), has proposed changes to the IFAC “Code of Ethics for Professional Accountants”.

EFRP speaks out on ASB proposals

The European Federation for Retirement Provision (EFRP) has joined opposition to Accounting Standard Board’s proposals to change the way pension fund assets and liabilities are calculated and reported.

A new Web site is providing sample questions for the CPA Exam for free

Links for information on the CPA Exam and related topics are also included in the resources section of the Web site to help candidates prepare for the challenging four-part CPA Exam.

Paulson predicts high systemic risks from Fannie and Freddie, demands new regulators

Two largest mortgage agencies Fannie Mae and Freddie Mac may create systemic risk for the whole American financial system, which is why they need a stronger regulator, said Henry Paulson, secretary of the Treasury, during his speech at the US Senate committee on banking this Tuesday – “Reuters” reports.

Government purchases under suspect in Russia

Yesterday the Accounts Chamber of the Russian Federation disclosed the results of its recent checks aimed to estimate efficiency of government purchases. Sadly, everything what was said yesterday was mostly associated with harsh critics of the current system: it is inefficient, and above that, it is in deep crisis.

IAASB Issues Auditing Standard on Related Parties

Following the consideration and approval of due process by the Public Interest Oversight Board (PIOB), the International Auditing and Assurance Standards Board (IAASB), an independent standard-setting board under the auspices of the International Federation of Accountants (IFAC), today released International Standard on Auditing (ISAs) 550 (Revised and Redrafted) “Related Parties” and three clarity redrafted ISAs.

IASB “fair value” rules will not be diluted

The principal body responsible for global accounting rules said it would not dilute the “fair value” standards that critics blame for increasing the scale of credit crisis-related writedowns at banks.

New rules for amortization already approved

Not long ago, we wrote about Minfin’s new proposals concerning rules of amortization. The authority was surprisingly quick about all formal procedures of its project’s approval by the State Duma and the Federal Council, but at what cost. It appears that the legislators rejected many of the ministry’s (most unwanted) proposals - for instance, those on accelerated amortization for property selling and use of non-linear method of amortizations without any alternatives.